Provide
a concise review of a)
debits and credits in
recording business transactions
and b) the central role
of the accounting equation;
Apply
the proper application
of debit and credit entries
to a series of business
transactions in compiling
a cash and accrual income
statement for a company;
Understand
the reasons for differences
in resulting cash and
accrual profits and their
implications for business
risk;
Trace
the impact on reported
profits, cash flow, and
balance sheet amounts
and composition from incorrect
accounting entries;
Review
the meaning and application
of critical accounting
principles and the impact
of their omission or misuse
on reported profits and
balance sheet amounts;
and
Understand
the differences between
accrual and cash revenue
recognition and the resulting
cash and accrual impact
on business profits and
cash flow.
Course
Materials
Note on Accounting
Fundamentals and Risk
Assessment
Note on Key Accounting
Principles and Risk
Assessment
2001
Financial Statements for
Information Access
Exercise
Set (downloaded from Shockproof!
Training website)
Online
Review Quizzes
Solution
Set (downloaded from Shockproof!
Training website)
Access
to the Shockproof!
Training Resource
Center
Inclusion
in the Shockproof!
Training Discussion
Forum
Online
Credit Skills Proficiency
Exam
Upon
Completion
Participants who successfully
complete the workshop will
be able to:
Understand
the use of debits and
credits in recording business
transactions and the central
role of the accounting
equation;
Apply
debit and credit entries
to a series of business
transactions in compiling
a cash and accrual income
statement for a company;
Understand
the reasons for differences
in resulting cash and
accrual profits and their
implications for business
risk;
Trace
the impact on reported
profits, cash flow, and
balance sheet amounts
and composition from incorrect
accounting entries;
Understand
the meaning and application
of critical accounting
principles and identify
the impact of their omission
or misuse on reported
profits and balance sheet
amounts; and
Assess
the differences between
accrual and cash revenue
recognition and the resulting
cash and accrual impact
on business profits and
cash flow.
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to Order
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